Common use of Organization, Authority and Qualification Clause in Contracts

Organization, Authority and Qualification. The Assignee is duly organized, validly existing and in good standing under the laws of its jurisdiction of formation and has all requisite power and authority to enter into this Agreement, to carry out its obligations hereunder and to consummate the Transactions. The execution and delivery by the Assignee of this Agreement, the performance by the Assignee of its obligations hereunder and the consummation by the Assignee of the Transactions have been duly authorized by all requisite action on the part of the Assignee and its stockholder.

Organization, Authority and Qualification. The Assignee Assignor is duly organized, validly existing and in good standing under the laws of its jurisdiction of formation and has all requisite power and authority to enter into this Agreement, to carry out its obligations hereunder and to consummate the Transactions. The execution and delivery by the Assignee Assignor of this Agreement, the performance by the Assignee Assignor of its obligations hereunder and the consummation by the Assignee Assignor of the Transactions have been duly authorized by all requisite action on the part of the Assignee Assignor and its stockholder.